General Mills, Inc. (NYSE:GIS) Stock Has Average Target Price of $36.59 According to Analysts

General Mills, Inc. (NYSE:GIS) has been assigned an average rating of “Reduce” from the twenty research firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $36.59.

A number of research firms have weighed in on GIS. Barclays lifted their price objective on shares of General Mills from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, September 25th. TD Cowen increased their target price on shares of General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, September 24th. Weiss Ratings restated a “sell (d+)” rating on shares of General Mills in a research report on Tuesday, September 29th. Piper Sandler reaffirmed an “overweight” rating on shares of General Mills in a report on Thursday, September 24th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of General Mills in a research report on Monday, September 21st.

Hedge Funds Weigh In On General Mills

A number of large investors have recently added to or reduced their stakes in the stock. CX Institutional lifted its holdings in General Mills by 17.6% during the third quarter. CX Institutional now owns 5,100 shares of the company’s stock valued at $164,000 after purchasing an additional 762 shares in the last quarter. Talon Private Wealth LLC purchased a new stake in shares of General Mills during the second quarter worth about $211,000. The Manufacturers Life Insurance Company raised its position in shares of General Mills by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 299,001 shares of the company’s stock worth $10,405,000 after purchasing an additional 6,098 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in General Mills by 38.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 36,290 shares of the company’s stock valued at $1,263,000 after buying an additional 10,132 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in General Mills by 52.6% in the 2nd quarter. Tidal Investments LLC now owns 127,535 shares of the company’s stock valued at $4,438,000 after buying an additional 43,958 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Trading Up 0.1%

General Mills stock opened at $32.05 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.66. General Mills has a 12 month low of $31.17 and a 12 month high of $51.26. The stock’s 50 day simple moving average is $37.25 and its two-hundred day simple moving average is $36.00. The firm has a market cap of $17.14 billion, a PE ratio of -19.31, a P/E/G ratio of 1.73 and a beta of 0.03.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts anticipate that General Mills will post 3.08 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $2.44 dividend on an annualized basis and a yield of 7.6%. General Mills’s dividend payout ratio (DPR) is currently -146.99%.

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its products include cereal, snack bars, refrigerated dough, baking mixes, yogurt, soup, meals, frozen foods, and pet food, serving retail, foodservice, and pet channels.

The company’s portfolio includes well-known brands such as Cheerios, Betty Crocker, Pillsbury, Nature Valley, Yoplait, Häagen-Dazs, Old El Paso, Progresso, Totino’s, Annie’s, and Blue Buffalo. General Mills sells its products primarily in the United States and also serves consumers in international markets across multiple regions.

General Mills traces its history to the Minneapolis Milling Company, established in 1856, and adopted the General Mills name following a 1928 combination of several milling businesses.